UK Disposable Income Drops to Pre-Pandemic Levels

UK Household Disposable Income Plummets, Hitting Living Standards: A six billion pound tax surge, freeze on income tax thresholds, and rising capital gains taxes have led to a record low in real household disposable income per person in the UK. This decline, coupled with slow economic growth and high unemployment, threatens to undermine Prime Minister Keir Starmers pledge to boost living standards. Analysts warn that growth in disposable incomes over this parliament could be the second worst since the nineteen fifties, with real hourly pay not recovering to pre-pandemic levels until after this decade.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.